Sea Forest signs distribution deal with Teys Australia
- Sea Forest signed a distribution agreement with Teys Australia targeting at least 480,000 head of cattle by June 30, 2027.
- The commercial agreement expands total cattle under agreement to 541,000 head.
- Teys Australia will act as the exclusive distributor of SeaFeed for the Australian and New Zealand beef industry, subject to volume targets.
Sea Forest (ASX:SEA) executed a distribution agreement with Teys Australia Trading to target at least 480,000 head of cattle by June 30, 2027.
The deal expands total cattle contracted under agreement from 131,000 to 541,000 head, inclusive of 70,000 head on feed already contracted with Teys Australia.
"The agreement brings together two organisations with a shared commitment to practical innovation, commercial discipline and delivering meaningful climate outcomes," said Sea Forest Managing Director and CEO Sam Elsom.
Under the arrangement, Teys Australia becomes the exclusive distributor of SeaFeed for the domestic and New Zealand beef markets, provided it meets specified purchase volume targets.
The company stated that the partnership combines distribution capabilities and carbon market opportunities to support adoption at scale.
Following the announcement, the Sea Forest share price was unchanged at $1.80.
The agreement follows a 12-month period where Teys Australia trialled the SeaFeed product within its feedlot operations.
Teys Australia General Manager Feedlots Grant Garey stated that formalising the distribution agreement allows the business to make the product available across a larger segment of the agricultural supply chain.
